The Central Directorate of National Savings (CDNS) has implemented adjustments in the rates of return across several National Savings Schemes, marking the fifth revision in the past five months.
According to Topline Securities, notable alterations include a reduction in rates for the Special Savings Certificates (SSC), which now stand at 15.70 per cent, down by 10 basis points (bps) from the previous 15.8 per cent.
Similarly, the Regular Income Certificates (RIC) will yield a return of 14.64 per cent, reflecting a decrease of 12 bps from the prior 14.76 per cent.
Conversely, rates for Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) have been adjusted to 15.36 per cent, following a decrease of 24 bps.
Meanwhile, the Defence Savings Certificate saw a minor decrease of 1 bps, now offering a return of 14.39 per cent.
In contrast, Short Term Savings Certificates (STSC) experienced an increase of 24 bps, with rates elevated to 19.24 per cent.
Additionally, the Sarwa Islamic Term Account (SITA) will provide a return of 19.1 per cent, marking a significant increase of 56 bps.
The profit rates for Saving Account and Sarwa Islamic Saving Account (SISA) remain steady at 20.5 per cent each.
These adjustments, effective from May 14, 2024, indicate a strategic move by CDNS to align returns with prevailing market conditions and investment dynamics.
